Kusserow on Compliance: Benefits of employing compliance liaisons

Kash Chopra is an MBA and J.D. consultant with Strategic Management, a firm that has built managed evaluated and enhanced hundreds of compliance program. She is a strong advocate for compliance officers making use of Compliance Liaisons (CLs) and notes that many organizations with multiple sites have found them an effective adjunct to the compliance program which can be used to champion the program at outlying or remote facilities or locations.  Among the major benefits of CLs is that they can serve an important role in extending the reach of the compliance office to an organization’s different geographies and businesses. There are many other benefits in that they can be used to develop and expand proactive approaches to regulatory interactions, ensure full visibility regarding what is happening in outlying facilities and locations, and provide the ability to communicate compliance office initiative at their locale while communicating what is happening in their business environment. The CL’s provide an avenue by which to keep organization leadership informed on how shifts in the regulatory landscape are affecting current and—equally important—proposed operational activities. In addition to understanding the organization’s inherent regulatory risks, they should have basic understanding of regulators’ expectations as to how the organization can mitigate risks. However she warns, to be effective, it is very important that they are provided with clear and detailed responsibilities as well as the resources, authority, and independence required to conduct their duties effectively.

 

Compliance Liaison Benefits

  • Raising and maintaining compliance awareness at the local area
  • Providing early identification emerging risks areas and issues
  • Aiding in the investigation and resolution of compliance issues
  • Communicating information on compliance priorities to department faculty and staff
  • Assisting in planning and implementing compliance education/training programs
  • Assisting in development of effective auditing/monitoring plans
  • Providing a channel to refer compliance issues to the compliance office
  • Calling attention to emerging compliance-related issues
  • Assisting in communicating regulatory and legal issues to help ensure compliance
  • Tracking specific metrics for the compliance office
  • Providing a process for responding to regulator requests
  • Assisting in scheduling meetings to discuss compliance matters
  • Providing a process for escalating compliance issues
  • Tracking compliance issues from identification, through investigation to resolution

For more information, Chopra can be reached at KChopra@strategicm.com or (703) 535-1413

 

Richard P. Kusserow served as DHHS Inspector General for 11 years. He currently is CEO of Strategic Management Services, LLC (SM), a firm that has assisted more than 3,000 organizations and entities with compliance related matters. The SM sister company, CRC, provides a wide range of compliance tools including sanction-screening.

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Copyright © 2018 Strategic Management Services, LLC. Published with permission.